Rare Coin Sells for Record $10 Million

Geo Beats 2013-02-02

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A rare coin sells for $10 million.

It’s shocking how a coin with a tiny face value can be so valuable to collectors. Recently, a coin dubbed the ‘ Flowing Hair Silver Dollar’ sold for more than $10 million at a New York City auction.

A co-founder of the company that purchased the piece states “It’s one of the rarest coins in existence. Who knows who could have held this coin? George Washington? Any of the Founding Fathers?” The coin was minted in 1794 and it pictures a side profile of Lady Liberty.

Approximately 1,750 of the rare silver dollars were made that year on a hand turned press in Philadelphia, with only 140 to 150 believed to remain in existence. It is believed that this particular auction coin was the first silver dollar made in the United States given its perfect condition.

Last year, someone shelled out $1 million for one rare cent. Co-chairman of the Texas Rangers, Bob Simpson purchased a 1943-S Bronze Lincoln Cent.

Professional Coin Grading Service has looked over the coin and certified it as genuine. The penny is one out of four San Francisco Mint Lincoln pennies that were accidentally made of bronze rather than the 1943 standard material of zinc-coated steel.

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